Question 2: Accounts Receivable Management has provided a detailed aging schedule of accounts receivable below. Based on past collections history, management estimates the percentage uncollectible as follows: 0-30 31-60 61-90 91-120 over 120 Number of days outstanding Estimated percentage uncollectible 0.5%. 2% 5% 10% 50% Required: Please see the requirements below the accounts receivable listing. 31-60 Days 61-90 Days 91-120 days > 120 days 0-30 Days 10,211.90 8,564.40 15,601.80 3,985.16 $ 3,425.76 2,556.73 $ 5.113.46 $ 2,556.73 $ 20,946.62|| 324.40 2,270.78 21,285.40 4,021.47 6,718.11 15,682.95 21,023.53 7,996.62 9,409.77 4,601.24 4.614.61 9,418.45 2,325.00 4,492.41 1.326.911 1.326. 91 3,980.72 8,570.61 7,071.52 7,286.99 2,201.17 11,667.13 5,089.39 4,409.79 13,229.36 12,896.56 5 ,250.00 10,948.49 2,288.88 3.447.08 Customer name Region Dr. Roger Goyette YEG Dr. Camila Schuppe South Dr. Juanita Zboncak YYC Dr. Terence Smitham YYC Dr. Carmella Lebsack YYC Dr. Michaela Zulauf YYC Dr. Hillary Schuppe North Dr. Isabella Stokes Central Dr. Camylle Wuckert YEG Dr. Molly Stracke North Dr. Stacy Kuhlman Sr. South Dr. Aubree Hermiston Central Dr. Judy Ziemann YEG Dr. Charley Wilderman Central Dr. Cletus Bashirian YYC Dr. Tyree Gorczany Central Dr. Dianna Mohr YYC Dr. Mackenzie Koch Central Dr. Winona Doyle South Dr. Bennett Beer IV YEG Dr. Bennie Romaguera North Dr. Deja Daniel South Dr. Elvera Fisher Sr Central Dr. Noemie Prohaska YEG Dr. Emely Aufderhar Central Dr. Fredrick Doyle YEG Dr. Kira Hammes South Dr. Maud Mayer Central Dr. Bell Grimes South Dr. Bradly Monahan Central Dr. Roscoe Daugherty South Dr. Haylee Mitchell YEG Dr. Carrie Schiller South Dr. Bertha Mayert South Dr. Alba Barton South Dr. Misty Ankunding Central Dr. Elaina Monahan YEG Dr. Sylvan Runolfsson North Dr. Jonas Spinka Central Dr. Delphia Schultz YYC Dr. Telly Pfeffer South Dr. Lamar Mayer South Dr. Eve Dicki YYC Dr. Florence Balistreri South Dr. Alana Feeney YEG Dr. Cheyenne Steuber South Dr. Edison Bergstrom YEG Dr. Herta Anderson North Dr. Maci Weissnat North Dr. Godfrey Lemke YEG Dr. Karley Adams North Dr. Meagan Deokow South Dr. Earlene Considine YYC Dr. Aleo Altenwerth Central Dr. Bret Nolan V South Dr. Talia Satterfield South Dr. Caden Stokes North Dr. Kylee Tillman North Dr. Braeden Nikolaus Central Dr. Toney Ullrich Central Total 10,211.90 $ 11,990.16 15,601.80 3,985.16 10,226.92 20,946.62 2,595.17 21,285.40 4,021.47 6.718.11 21,023.53 7,996.62 25,092.72 4,601.24 6,939.61 9,418.45 4,492.41 6,634.53 8,570.61 7,071.52 7.286.99 2,201.17 11,667.13 5,089.39 17,639.14 18,146.56 10,948.49 2,288.88 3.447.08 5,139.34 35,382.26 14,840.68 4,361.59 19,084.46 13,266.90 20,813.71 10,873.80 10,923.29 11,520.71 14,841.46 4,303.53 - 5,776.45 7,630.21 15,505.75 16.639.65 12.110.38 16,734.80 14,409.94 16,288.72 16,561.46 11,472.49 3,421.17 6,615.56 31,932.45 35,980.43 17,471.80 8,321.00 7,807.58 6,749.93 17,135.75 1,027.87 4.111.47 19,632.26 14,840.68 15,750.00 4,361.59 19,084.46 13,266.90 20,813.71 10,873.80 10.923.29 11,520.71 14.841.46 5.250.00 946.47 5,776.45 7,630.21 15,505.75 16,639.65 12.110.38 16,734.80 T 14,409.94 16,288.72 | 13,249.17 3.312.29 11,472.49 3,421.17 6 615 56 21,000.00 10,932.45 19,180.43 16,800.00 17,471.80 8,321.00 7,807.58 6,749.93 17,135.75 Total $ 722,056.04 $440,135.96 139,457.65 $ 88,071.96 $ 30,600.68 $ 23,789.80 1. Prior to estimating the amount uncollectible, it is determined that Dr. Carrie Schiller's account that originated in 2019. is judged uncollectible. Prepare the journal entry Date Account Titles Debit Credit Alloy ance for Doutbful Accounts 6,000 2. Determine the total estimated amount uncollectible (ending AFDA). % uncollectible % uncollectible Amount uncollectible TOTAL AFDA 3. Prepare the journal entry on December 31st to adjust the allowance for doubtful accounts to the appropriate ending balance. Date Account Titles Debit Credit 4. Critical Thinking: Hoy would the journal entry you've just created affect the accounts receivable turnover and average collection period that you calculated in Question 2? 5. Create a bar or column chart that shows accounts receivable by age. What can you surmise from the chart you created? Comments
